Hi Line Capital Management LLC Buys New Stake in Eagle Materials Inc (NYSE:EXP)

Hi Line Capital Management LLC bought a new stake in Eagle Materials Inc (NYSE:EXP - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 21,470 shares of the construction company's stock, valued at approximately $4,770,000. Eagle Materials accounts for approximately 1.8% of Hi Line Capital Management LLC's investment portfolio, making the stock its 22nd biggest holding. Hi Line Capital Management LLC owned 0.06% of Eagle Materials as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in EXP. Private Trust Co. NA grew its stake in shares of Eagle Materials by 53.0% in the fourth quarter. Private Trust Co. NA now owns 205 shares of the construction company's stock valued at $51,000 after buying an additional 71 shares in the last quarter. Huntington National Bank boosted its holdings in Eagle Materials by 154.8% during the 4th quarter. Huntington National Bank now owns 237 shares of the construction company's stock valued at $58,000 after acquiring an additional 144 shares during the period. Parallel Advisors LLC grew its position in Eagle Materials by 26.8% in the 1st quarter. Parallel Advisors LLC now owns 246 shares of the construction company's stock valued at $55,000 after acquiring an additional 52 shares in the last quarter. LGT Financial Advisors LLC grew its position in Eagle Materials by 233.1% in the 4th quarter. LGT Financial Advisors LLC now owns 443 shares of the construction company's stock valued at $109,000 after acquiring an additional 310 shares in the last quarter. Finally, Harbor Investment Advisory LLC increased its stake in Eagle Materials by 19.4% during the first quarter. Harbor Investment Advisory LLC now owns 499 shares of the construction company's stock worth $111,000 after purchasing an additional 81 shares during the period. 96.07% of the stock is currently owned by institutional investors and hedge funds.

Eagle Materials Price Performance

Shares of NYSE:EXP opened at $201.87 on Tuesday. Eagle Materials Inc has a 12 month low of $191.91 and a 12 month high of $321.93. The firm has a market capitalization of $6.60 billion, a P/E ratio of 14.67 and a beta of 1.28. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.73 and a quick ratio of 1.03. The company's fifty day moving average price is $215.12 and its 200 day moving average price is $231.14.

Eagle Materials (NYSE:EXP - Get Free Report) last posted its earnings results on Tuesday, May 20th. The construction company reported $2.08 EPS for the quarter, missing analysts' consensus estimates of $2.34 by ($0.26). The firm had revenue of $470.18 million for the quarter, compared to analyst estimates of $483.14 million. Eagle Materials had a return on equity of 32.71% and a net margin of 20.50%. The firm's revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter last year, the firm posted $2.24 EPS. As a group, sell-side analysts predict that Eagle Materials Inc will post 14.39 earnings per share for the current fiscal year.

Eagle Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 24th. Shareholders of record on Monday, June 16th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date is Monday, June 16th. Eagle Materials's dividend payout ratio is currently 7.27%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on EXP shares. Stifel Nicolaus set a $241.00 price objective on shares of Eagle Materials and gave the company a "hold" rating in a research note on Wednesday, May 21st. JPMorgan Chase & Co. reduced their price target on Eagle Materials from $310.00 to $250.00 and set a "neutral" rating on the stock in a research report on Wednesday, March 19th. Loop Capital cut their target price on shares of Eagle Materials from $245.00 to $237.00 and set a "hold" rating on the stock in a research note on Wednesday, May 21st. Truist Financial reduced their target price on shares of Eagle Materials from $330.00 to $280.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Finally, Stephens set a $255.00 price target on shares of Eagle Materials and gave the stock an "overweight" rating in a report on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $254.44.

About Eagle Materials

Eagle Materials Inc, through its subsidiaries, manufactures and sells heavy construction materials and light building materials in the United States. It operates in four segments: Cement, Concrete and Aggregates, Gypsum Wallboard, and Recycled Paperboard. The company engages in the mining of limestone for the manufacture, production, distribution, and sale of Portland cement, including Portland limestone cement; grinding and sale of slag; and mining of gypsum for the manufacture and sale of gypsum wallboards used to finish the interior walls and ceilings in residential, commercial, and industrial structures, as well as well as containerboard and lightweight packaging grades; manufacture and sale of recycled paperboard to the gypsum wallboard industry and other paperboard converters; the sale of readymix concrete; and mining and sale of aggregates, such as crushed stone, sand, and gravel.

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